Jerome Powell, the Chair of the Federal Reserve, confirmed he will remain a member of the Fed's Board of Governors after his term as chair concludes next month. During his final news conference, Powell stated he would not be a 'shadow Fed chair,' emphasizing his intention to support his successor, Kevin Warsh, who is awaiting Senate confirmation. Powell's decision to stay on the board is influenced by a recent Justice Department investigation into his conduct, which he described as politically motivated. The investigation, concerning whether he misled Congress about a costly renovation project at the Fed's Washington D.C. headquarters, has now been dropped, allowing Warsh's nomination to advance. Powell expressed concerns about ongoing legal threats to the Fed's independence, highlighting the importance of the central bank's ability to operate free from political influence for the stability of the U.S. economy. He plans to keep a low profile and respect the role of the chair as he transitions back to a governor's position.